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Ethereum is a blockchain platform designed to build decentralized applications (dApps) using smart contracts. Ether (ETH), its native cryptocurrency, is the second largest crypto by market cap. It’s used to pay for transaction fees (gas), run dApps, and execute smart contracts. Ether also plays a key role in decentralized finance (DeFi), staking, NFTs, and decentralized exchanges.
An Ethereum bridge allows assets and information to be transferred between Ethereum and other blockchains. For example, users can transfer assets like BTC onto Ethereum through bridges, giving them access to Ethereum’s DeFi ecosystem.
Ethereum enables access to financial services for people without traditional banking. Through DeFi platforms, users globally can lend, borrow, and trade without intermediaries, promoting financial inclusion in underserved regions.
A validator in Ethereum’s PoS model is a user who stakes ETH to help secure the network. Validators validate transactions, propose new blocks, and maintain consensus, earning rewards for their contributions to the network.
ENS is a decentralized domain name system on Ethereum that allows users to register human-readable names, like “myname.eth,” linked to their Ethereum address. ENS simplifies sending funds and interacting with the Ethereum blockchain.
Ethereum tokens are created using smart contracts that define the token’s properties and behavior. Developers use the ERC-20 or ERC-721 standards to create tokens, enabling them to easily integrate into the Ethereum ecosystem and interact with dApps.